LoanMLS Hits the 9,000 Member Mark

LoanMLS Inc., a non-auction, online mortgage loan and loan pool exchange that charges a transaction fee and not a commission to transact business, has reached a milestone of 9,000 members. “It’s encouraging to see how far we’ve come since starting the company in August of 2009 without any members at all, how well we’ve been accepted in the marketplace, and how well investors understand the value we bring,” said Martin Goodman, founder and president of LoanMLS Inc. “Our rapid growth is a testament to the fact that investors still want to engage in business despite a difficult mortgage and real estate market. We’re proud of our exchange system and how its success continues to attract new loan buyers and sellers.” Sellers find the LoanMLS platform appealing because it allows for loan pools to be easily divided into individual loans that can be sold to more buyers, driving up prices. Sellers also benefit from being able to sell to a wide audience of both national and local buyers. More potential buyers means more bids on their loans and enables business that wouldn’t otherwise take place away from a direct online exchange. “We offer a way to sell loans and loan pools that is less expensive, yet it brings higher prices, than any other method on the Internet or through more traditional means and that is why LoanMLS is the exchange of choice for investors,” said Goodman. “We think that many of them have found the prices and intuitive technology too good to ignore.